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1h

Bearish Crab Pattern (1H)The Crab is a precise Harmonic pattern that was discovered by Scott Carney in 2000. The Crab is a distinct 5-point extension structure that utilizes a 161.8% projection of the XA leg exclusively. This is the most critical aspect of the pattern and the defining level in the Potential Reversal Zone (PRZ). The extreme (261.8%, 314%, 361.8%) projection of the BC leg compliments the 161.8% extension of XA. Due to the extremity of the projections utilized in the completion of the pattern, the Crab frequently experiences sharp price action and dramatic reversals. It is common for price action to possess extreme ranges, quickly testing the Crab PRZ during the reversal. In fact, the price action experienced in Crab pattern completions is usually the most extreme of all of the patterns. Despite the typically severe reversals, the focus of the pattern’s completion should examine the 161.8% projection of XA. ENTRY = 1.18152 STOP = 1.18434 TP1 = 1.17696
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by Cryptsyxalt